Sunday, Apr 25, 2010
Interest rates certain to go up
Times: Homeowners told to fix now
oh dear I thought interest rates were zero forever!..houseprices are certain to crash within 12 months if rates go up imo..quite how the housing bubble has been allowed to continue beggars belief....ftbs at 38 years old...utter madness
Posted by taffee @ 09:08 AM (1329 views) Add Comment
4 Comments
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1. mrflibble said...
This article also highlights the problem that FTB's who bought in over the last few years will have. Fixing at a decent rate is only available with a 25% deposit. Newbies don't have this sort of equity yet, leaving them stuck on SVR. When rates go up they will be the first for the chop.
2. taffee said...
most fixed rates with under 25% deposit are over 5%....svr could rise to 7-8% or more
potential nightmare
3. mystie010 said...
Well everyone I was soooooooo wrong in my prediction that interest rates would rise around March/April. The longer the low rate thing goes on, the less sure I am now that rates will rise to anything significant. There's too much money wrapped up in all of this to allow rates to rise. I'm changing my view, I'll never be sure of anything again really.
4. alan said...
mystie010,
Yes, I thought March/April would see an interest rate rise, too.
I can see inflation staying high, but even putting up rates by 0.5% is going to cause problems for some "finely tuned" homeowners. Sooner or later the tanning lamps will bet turned off!